Geld verdienen im IoT – aber wie? Monetizing the Internet of Things

In recent years, strategy consultants, market researchers, and technology evangelists have outbid each other with positive forecasts regarding the economic potential of the Internet of Things (IoT). In fact, there is a common understanding that IoT solutions open up new business potential and are currently disrupting entire industries. However, recent empirical research shows that companies realize these opportunities much slower than anticipated. Even undisputed IoT pioneers such as General Electric have recently failed with their ambitious digitization initiatives and are forced to revise their communicated IoT plans. In view of this digitization paradox, with significant IoT investments, but low generated returns, companies are now more than ever looking for new opportunities that go beyond popular product and service innovations. This article addresses the question of how the IoT influences core business model elements, and reflects promising strategies for the long journey to profitability in the Internet of Things.